Apple Inc. (NASDAQ:AAPL) Shares Bought by Broadway Wealth Solutions Inc.

Broadway Wealth Solutions Inc. lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 27.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,312 shares of the iPhone maker's stock after buying an additional 1,810 shares during the quarter. Apple comprises 1.3% of Broadway Wealth Solutions Inc.'s portfolio, making the stock its 12th biggest holding. Broadway Wealth Solutions Inc.'s holdings in Apple were worth $1,846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of AAPL. Drystone LLC purchased a new position in Apple during the 4th quarter valued at about $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple during the fourth quarter worth about $47,000. Conquis Financial LLC purchased a new position in shares of Apple in the fourth quarter worth about $63,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC purchased a new stake in Apple in the fourth quarter valued at $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AAPL shares. Monness Crespi & Hardt boosted their target price on shares of Apple to $245.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Morgan Stanley restated an "overweight" rating on shares of Apple in a research report on Friday, June 13th. Wedbush restated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Wednesday. Finally, Loop Capital dropped their target price on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $235.27.

Apple Trading Up 0.6%

Shares of Apple stock traded up $1.27 during trading hours on Thursday, reaching $212.41. 44,333,520 shares of the company's stock were exchanged, compared to its average volume of 53,446,789. The company has a fifty day moving average of $203.29 and a 200-day moving average of $218.03. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a market capitalization of $3.17 trillion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 EPS. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is 16.20%.

Apple declared that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.